Hunter II has been developed by MCL Software, Experian’s specialist fraud prevention business, and will enable users of the system to share data on fraudsters, across different product types and industry sectors to help prevent fraud. As a result, the incidence and impact of fraud on its victims, whether the financial impact on the business itself or the personal distress of consumer victims, will be greatly reduced.
David Usmar, Senior Fraud Manager, Barclaycard, said:
“At Barclaycard, we have used Hunter for a number of years and welcome the new developments with Hunter II, including incorporation of the death register and automatic identification where a fraudster is impersonating a deceased person. This is a major step forward as not only does it prevent fraud, but it also prevents a lot of heartache for innocent parties.
“By incorporating dynamic workflow to allow users to choose what to refer and to whom (including National and Corporate Hunter Matches), it should enable the allocation of prioritised work automatically, which should increase the fraud prevention capability by identifying the fraud more quickly and easily.
“The Hunter development team has worked closely with Barclaycard and other Hunter users, seeking our ideas and opinions to develop a product that is able to meet our needs. We are now looking forward to trialling Hunter II and measuring the benefits of the new system.”
“Fraud can wreak havoc on its victims,” commented Gary Wood, Managing Director of Experian’s Fraud Solutions Business, “and it’s not just the lender that is the victim. It is the genuine customer who invariably ends up paying more for credit and other goods and services as a result of fraud. In cases of identity theft, it is particularly upsetting for its victims and, often, this type of fraud can go undetected by its victims for up to four years. When it is detected, it can take another two years to sort out the damage caused from fraudulent activity – during which time it could make it difficult for victims to get a mortgage, a credit card or a bank loan.
“The most cost-effective way of reducing fraud and its impact is to not let it happen in the first place. Hunter II provides an effective deterrent to fraud and, with the use of the latest innovative technology, extends Hunter’s fraud-fighting and data sharing abilities right across the world.
Hunter II uses internationally proven software techniques to data match credit applications and highlight inconsistencies – which may indicate suspicious fraudulent activity.
Highly intuitive, Hunter II offers full global language support to ensure that any language can be supported. And, because the system is online, genuine applications can be identified and new business can be rapidly accepted, whilst fraudulent applications can be quickly identified and losses prevented from occurring. Hunter is already established in the UK, Australia and South Africa and, with the new developments, Hunter II will be rolled out across the world.
Gary Wood concluded:
“Fraudsters don’t abide by geographic boundaries, nor stick to one form of fraud or business, product or service to attack. Fraud is often a key part of organised criminal activity and it is only through international cooperation and the use of systems such as Hunter II, that businesses can keep ahead of the game. It is important that businesses make a stand and employ the latest fraud prevention tools to dramatically reduce fraud and its impact on its victims.”
Hunter II works by automatically checking new applications and claims against previous applications or claims, suspect information and extensive fraud databases. This ensures that previously fraudulent, suspect, declined or multiple applications can be identified, along with any adverse or previous address information which an applicant may be deliberately hiding so that adverse information at the missing address would not be connected to that applicant. The use of an alias or false names, false employment details and impersonation can also be matched and highlighted through the Hunter II system.
For more information on Hunter II, contact Experian’s MCL Software division on +44 (0)1704 501001 or email email@example.com.
This press release can be downloaded from http://press.experian.com.
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Experian is a global leader in providing information solutions to organisations and consumers. It helps organisations find, develop and manage profitable customer relationships by providing information, decision-making solutions and processing services. It empowers consumers to understand, manage and protect their personal information and assets. Experian works with more than 40,000 clients across diverse industries, including financial services, telecommunications, healthcare, insurance, retail and catalogue, automotive, manufacturing, leisure, utilities, property, e-commerce and government. Experian is a subsidiary of GUS plc and has headquarters in Nottingham, UK, and Costa Mesa, California. Its 13,000 people support clients in more than 60 countries. Annual sales exceed £1.2 billion.
For more information, visit the company’s website on www.experian.com.
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